Quick analysis of today's gold price trend
With gold's strong increase last week, this week I find it quite difficult to trade 🤣. Who knows, this week will be a week of strong price drops for gold?? (With the price of gold, nothing is impossible). So you should be careful, trade with moderate volume and set a stop loss.
Currently, I see only one resistance zone: 2088-2090. If it breaks through this zone, the gold price will return to its old peak of 2100 and there will be almost no strong resistance zone left to stop the price increase of gold. However, Today is Monday I think the gold price may not run too strongly.
So my scenario with today's gold price:
Selling zone: (Trading with small volume)
Asia-Europe Session: 2088-2090. Stop loss 2092.
Buying area:
Asia-Europe Session: 2074-2077
US session: 2065-2070
(The buying/selling area is for reference only, you are responsible for your own profit and loss)
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